Balance Sheet

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What is the Balance Sheet in Akaunting?

The Balance Sheet is a financial statement that provides a snapshot of a company’s financial position at a specific time. It summarizes a company’s assets, liabilities, and equity and provides an overview of its financial health and stability.

The Balance Sheet in Akaunting typically includes the following components:

  1. Assets: This section includes all the resources owned by your company, such as cash, accounts receivable, inventory, and fixed assets like property, plant, and equipment.
  2. Liabilities: This section includes all the debts owed by your company, such as accounts payable, loans, and other financial obligations.
  3. Equity: This section includes the difference between your company’s assets and liabilities, also known as the company’s net worth. It has retained earnings, common stock, and other equity accounts.

The Balance Sheet is an essential financial statement that can help you make informed financial decisions.

To access the Balance Sheet, you need to install or Purchase the Double-Entry app. After installation,

  • Go to Reports on the Navigation Menu.
  • On the Reports page, go to the Accounting section.
  • Click Balance Sheet.
  • On the Balance Sheet report page, you can use the filters to set the following:
    • Basis: Accrual or Cash
    • Report date: Pick a specific period for your report.
  • After entering your preferred filters, hit the Enter Key on your keyboard to refresh and view an updated report.

You can Print, Export, or Schedule Balance sheet reports from the top left corner of the page.

To schedule balance sheet reports, you need the Schedule Reports app.

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